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RE accounting/ tax question regarding capex vs expenses for rental property rehab....
I've done small business accounting for years, but there seems to be various opinions on what's expensable and what's a capital expense when it comes to rental real estate.
So, I bought a house to rent. How would you categorize:
Asbestos testing and abatement
Trash removal... stuff left by previous owners
Trailer rental and dump fees for old carpet
Trailer rental to pick up new bathroom cabinet
Utilities during rehab
Or, is everything I do now part of the renovation, thus capex?
Last edited by LeeH; 10-08-2019 at 09:20 AM..
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